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IURC approves Duke Energy’s 7.2% rate hike



Indiana – Customers of Duke Energy will once more feel the pinch. The utility’s request for a 7.2% rate increase – the second Duke’s in recent months—was granted by the Indiana Utility Regulatory Commission. In October, the modification becomes effective.

Duke requested the rate increase based on a fuel adjustment fee (FAC), citing higher-than-anticipated fuel prices that did not match the earlier cost estimates made by the business.

Customers’ bills will typically increase by $11.71 as a result. This follows Duke’s request for a rate hike, which the IURC authorized and took effect in July. A 16% rate increase was also requested.

Under the hike, a residential customer who currently pays $163.53 per month will now have to pay $175.24. Bills for commercial users would increase by roughly 8.8%, while those for industrial customers will increase by about 10.7%.

According to the IURC, it will have an impact on bills in October, November, and December.

To lessen the immediate impact on customers, Duke requested that the IURC spread the hike over six months. According to the utility company, the increases are temporary.

Due to the rate changes, Duke customers now pay roughly 30% more than they did a year ago.

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